Kingfisher jumped 30
Kingfisher jumped 30.5p to 670p on added whispers that its French partner Castorama will benefit from increased DIY work after the storms. The leading index took its cue from Wall Street's recent record- breaking performances and refused to be depressed by bearish economic data. However, if Airtel was to fall to a competing offer from Vodafone AirTouch, 0.75p higher to 305.5p, BT is odds-on to turn to other fast-growing European markets such as Italy, France and Portugal. A bid for Esat, the Irish mobile operator currently stalked by Norway's Telenor, is also seen as a strong possibility. Daring traders even ventured that the UK group could merge with a European rival such as Spain's Telefonica.As for Royal & Sun, the stock jumped 44p to 450p on renewed whispers of a pounds 7bn, 490p-per-share bid from Zurich Financial Services, the owner of Allied Zurich, 13p better at 735.5p.Stock market sages were not surprised by the move.
In City circles, the troubled Royal & Sun has long been seen as a sitting duck and many believe that it is only a matter of time before Zurich or another foreign giant takes it out.The Royal & Sun-BT combo excited the FTSE 100, which ended 29.4 higher to a new closing peak of 6,835.9 after setting an intraday record of 6,860.8. The passengers included 150 Indians, eight Nepalese, one Canadian, one American, four Swiss, four Spaniards, one Belgian, one Japanese, one Australian, two French citizens and one Italian Four passengers were not listed by nationality.. THE BOMBED-OUT insurer Royal & Sun and the telecom high-flyer BT propelled a lethargic market to a new record yesterday amid growing whispers of corporate action. The odd couple livened up the last full trading day of the 20th century with talk that both companies will greet the new millennium with a big deal. The telecom giant rang up a 65p rise to an all-time high of 1,492p in pretty hefty volume of 6.9 million shares as talks of a European acquisition spread through the almost deserted dealing rooms.According to the unfortunate dealers called into service between Christmas and New Year's Eve, BT could increase its offer for the Spanish mobile phone operator Airtel. The captors freed 27 hostages and unloaded Katyal's body during a stopover in the Emirates.
One more passenger, a diabetic Indian was released Sunday. The plane was carrying 178 passengers and 11 crew members when it took off Friday. The hijacked plane made stops in India, Pakistan and the United Arab Emirates before landing in Afghanistan on Saturday. Passengers who have been released said the hijackers stabbed passenger Rippan Katyal after he disobeyed orders not to look at them. Armed with grenades, pistols and knives, they seized Flight 814 some 40 minutes after it took off from Katmandu, Nepal, on a scheduled flight to New Delhi on Friday. New Delhi has come under heavy pressure from relatives and supporters of the hostages to bring an end to the crisis. Most of the hostages are Indian. Indian officials have said there are five hijackers. "They've got to talk to each other and agree to stop resorting to military force or whatever means to resolve that situation," said Department of Foreign Affairs spokesman Reynald Doiron. Indian negotiators opened talks with the hijackers late Monday, four days into the standoff, after the hijackers threatened to kill more hostages. Along with the 35 militants, the hijackers seek the release of a Muslim cleric, Masood Azhar, arrested in 1994 by India as a reported leader of the Kashmiri fighters. In Canada, which has one national among the hostages, the Foreign Affairs Ministry said the crisis showed India and Pakistan had to resolve their decades-long dispute over Kashmir.